A closely followed crypto analyst and trader predicts an epic rally that could boost Bitcoin (BTC)’s value at least 30 percent more than its current price of $61,000. According to the crypto analyst’s chart, Bitcoin could record an all-time high in November before hitting $80,000 or higher in early December, i.e. above $67,000.
Altcoin Sherpa reveals levels to watch for Bitcoin
Cryptocoin. com, while Bitcoin retreated from its all-time high of $67,276.79; Known as the altcoin Sherpa, the analyst told his 137,800 followers the key levels to watch. “I think there should be good support in this area,” the analyst said. This $60,000 area, $59,000 area was a support/resistance reversal, as you can see in March-May 2021.”
Now it says this level could turn into support. If this area is broken, he expects support to be between $54-57 or $58,000. “If you also look at the charts that cover the narrower time, the four cyclical 200 EMA (exponential moving average) is right around this $55,000 area,” the analyst said. So again, this area should be pretty strong support,” he said, adding:
I still believe Bitcoin will hit all-time highs. I believe it will break all-time highs… I expect $80,000 or more in the next few weeks. I still feel really safe with BTC/USD. In short, I’m just waiting for some kind of higher low to form, followed by a breakout.